Welcome to our dedicated page for Stealthgas news (Ticker: GASS), a resource for investors and traders seeking the latest updates and insights on Stealthgas stock.
StealthGas Inc. (NASDAQ: GASS) is a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry. Its news flow centers on financial and operating results, fleet developments and chartering activity for its LPG carrier fleet.
Regular press releases provide unaudited quarterly and annual financial results, including net income, earnings per share, revenues, voyage expenses, vessel operating expenses, drydocking costs, general and administrative expenses, depreciation, interest and finance costs, and equity earnings in joint ventures. The company also reports non-GAAP measures such as EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS, along with reconciliations to net income.
StealthGas news items frequently include detailed fleet updates. These describe new time charters and charter extensions of three months or more for specific LPG carriers, the percentage of fleet days secured on period charters for upcoming periods, and the associated contracted revenues. The company also announces vessel sales, acquisitions of joint venture interests, and changes in the composition of its fully owned fleet and joint venture fleet.
Other notable news topics include progress on deleveraging through debt repayments, the number of unencumbered vessels in the fully owned fleet, cash and cash equivalents and total debt levels at certain reporting dates, and share repurchases under an authorized common stock repurchase program. Operational incidents affecting individual vessels, such as the reported incident involving the LPG carrier Eco Wizard and subsequent repair and towage developments, are also covered in detail.
Investors and observers following GASS news can use this page to review the company’s earnings announcements, chartering updates, capital structure developments, and disclosures about events affecting its LPG carrier operations.
StealthGas Inc. (NASDAQ: GASS) reported Q1 2022 results with a net income of $7.6 million and an EPS of $0.20, reflecting improved profitability. Total revenues for the quarter decreased 4.0% to $35.9 million, primarily due to a vessel spin-off. The company secured about 59% of its fleet days on period charters, translating to $70 million in contracted revenues for 2022. Operating and voyage expenses also decreased, contributing to a stronger cash position of $82.4 million as of March 31, 2022.
StealthGas Inc. (NASDAQ: GASS) will release its first quarter operating and financial results for the period ending March 31, 2022, before the market opens on May 26, 2022. A conference call to discuss these results, including the company's operations and outlook, is scheduled for 11:00 am ET. Interested participants can join by dialing the provided numbers or through a live webcast on the company’s website. StealthGas operates a fleet of 42 LPG carriers, emphasizing their role in the international shipping sector.
StealthGas Inc. (NASDAQ: GASS) announced its unaudited financial results for Q4 and the full year ended December 31, 2021, reporting significant operational metrics. Fleet utilization stood at 98.3% with operational utilization at 96.1%. The company reported a net loss of $38.7 million for Q4 21, compared to a loss of $0.7 million in Q4 20, largely due to a $40.2 million impairment charge from a spin-off. Adjusted net income was $2.8 million, with total revenues of $36.1 million, down 3.2% year-over-year. Despite challenges, StealthGas secured approximately $70 million in contracted revenues for 2022.
StealthGas Inc. (NASDAQ: GASS) announced it will release its fourth quarter and annual operating and financial results for the year ending December 31, 2021, before the market opens on March 8, 2022. A conference call is scheduled for the same day at 11:00 am ET to discuss these results and the company's outlook. Participants can join via US and UK toll-free numbers or through the archived webcast on the company's website. The company operates 44 LPG carriers with a total capacity of 434,444 cubic meters and has one newbuilding on order for mid-2023.
StealthGas Inc. (NASDAQ: GASS) reported its unaudited financial and operating results for Q3 and nine months ending September 30, 2021. The company successfully completed the spin-off of four tankers into Imperial Petroleum Inc. Fleet utilization reached 97.4%, with voyage revenues of $37.5 million, a 1.1% increase compared to Q3 2020. Net income stood at $1.2 million, with an EPS of $0.03. For nine months, revenues totaled $114.2 million, up 6% YoY. However, net income decreased to $3.6 million from $12.7 million in 2020. Cash on hand was $57.3 million, with low leverage at 36.6% debt to assets.
StealthGas Inc. (NASDAQ: GASS) will announce its third quarter and nine-month financial results for the period ended September 30, 2021, on December 8, 2021, before market opening in New York. A conference call will be held at 11:00 am ET the same day to discuss the results and company outlook. Interested participants can join via specified toll-free numbers, and a telephonic replay will be available until December 15, 2021. StealthGas operates 45 LPG carriers, with a total capacity of 437,973 cbm, and has one newbuilding Medium Gas Carrier on order, expected for delivery in mid-2023.
StealthGas Inc. (Nasdaq: GASS) announced the successful spin-off of its subsidiary, Imperial Petroleum Inc., effective December 3, 2021. Shareholders received shares of Imperial Petroleum common stock and preferred stock based on their ownership of StealthGas shares as of November 23, 2021. The spin-off aims to create value by separating operations within the liquefied petroleum gas shipping sector. Important legal disclosures are noted, emphasizing no solicitation for securities under any circumstances. StealthGas operates a fleet of 45 LPG carriers, enhancing its position in the market.
StealthGas Inc. (Nasdaq: GASS) announced a spin-off of Imperial Petroleum Inc., with a record date of November 23, 2021. Shareholders will receive one common share and one 8.75% Series A Preferred Share of Imperial Petroleum for every eight and forty-eight shares of StealthGas, respectively. The expected distribution date is around December 3, 2021, subject to regulatory approval. Fractional shares will be aggregated and sold, with net proceeds distributed to shareholders. This transaction aims to enhance shareholder value while restructuring operations.
StealthGas Inc. (NYSE: GASS) announced a spin-off of its three product tankers and one Aframax tanker through a new subsidiary, Imperial Petroleum Inc. This transaction aims to create two focused shipping companies, enhancing investor appeal. The spin-off, expected to finalize in early December 2021, requires SEC approval and will involve the distribution of Imperial's shares to GASS shareholders. The board believes this separation will clarify market positioning and attract new investors. However, no assurances are provided regarding the transaction's completion or terms.
STEALTHGAS INC. (NASDAQ: GASS) reported its Q2 2021 financial results with revenues of $39.2 million, an 8.0% increase from $36.3 million in Q2 2020. The net income was $1.6 million, or $0.04 per share, down from $8.9 million or $0.23 per share year-over-year. EBITDA decreased to $14.2 million from $21.8 million. The fleet utilization rate reached 98.1%, while about 74% of fleet days are secured on charters for the rest of 2021, generating projected revenues of $66 million.